CMS’ rewards programs can impact MAO’s bottom lines
Below is an excerpt from CEO Tom Wicka’s latest feature in Managed Healthcare Executive:
Last month, the Centers for Medicare and Medicaid Services (CMS) finalized its guidance on Rewards and Incentive Programs (RI Programs). These guidelines are applicable today and enable Medicare Advantage Organizations (MAOs) to offer health-driven incentive programs that may be applied to an expanded list of health-related services and activities. However, some restrictions in the structure and framework of these programs must be taken into account to succeed.
Innovative MAOs are developing or implementing programs that provide rewards and incentives to enrollees for participating in activities that improve health, prevent injury and illness, and promote efficient use of healthcare resources. Many of these preventive and efficiency areas also align with an MAO’s quality measures and outcome performance, and therefore impact P&L.
But make no mistake — this is not an easy task, nor is it a game for amateurs. There are many voices in this discussion, but to be effective here requires both regulated industry and loyalty marketing expertise. Not optimizing your rewards strategy in the right way will either result in a blown budget or fines from CMS.
NovuHealth is the leading healthcare consumer engagement company, offering rewards and incentive programs that improve consumer health and plan performance. NovuHealth applies proven loyalty and data science strategies and leverages its deep industry and regulatory expertise to motivate high-value consumer activities. Headquartered in Minneapolis, NovuHealth has worked with nearly 40 health plans and served more than 15 million consumers across all 50 states. Learn more at novuhealth.com.
Novuhealth is the leading healthcare consumer engagement company, driven to improve consumer health and health plan performance. NovuHealth motivates consumers to complete high-value healthcare activities by leveraging its sophisticated engagement platform, proven loyalty and behavioral science strategies, and deep industry and regulatory expertise. Headquartered in Minneapolis, NovuHealth has worked with nearly 40 health plans and served nearly 15 million consumers across all 50 states.
© 2010-2019 NovuHealth. All rights reserved.